Solution to Help Lenders Better Manage Loan Reconciliation Process
Press Release - September 2006
| Contact: Arshad Masood 609-452-0700 Ext. 1119 arshad@visionetsystems.com Joy Harper Visionet Systems Public Relations (678) 799-8118 |
FOR
IMMEDIATE RELEASE 9 AM EST September 12, 2006 |
Visionet Systems Launches Solution to Help Lenders Better Manage Loan Reconciliation Process
VisiRecon® enables lenders to automate generation of investor bank reconciliation forms
CRANBURY, N.J., Sept. 12, 2006 –Visionet Systems has launched VisiRecon®, an investor bank account reconciliation automation solution for private investors and the Federal National Mortgage Association (FNMA) at the loan level. The system allows lenders to locate and remove inefficiencies through reporting services that increase tracking of user productivity, performance and the research pipeline.
VisiRecon® enables lenders to download bank statements, investor remittance reports, bank deposits in transit and disbursement activity reports. At the loan level, the system records all changes performed in a complete audit trail, while a research queue pinpoints root causes of variance. To ensure REG AB compliance, VisiRecon® performs aging processes when the test of cash difference is above the threshold.
The system also features a manual adjustment module, allowing users to monitor the reconciliation process at the bank account level. The module provides importing capabilities for loan details associated with distinct depository adjustments from the bank account, as well as capabilities for manual adjustments.
“Because reconciliation is such a detailed process, we developed an automated solution that allows lenders to monitor the process at any level,” said Arshad Masood, president of Visionet Systems. “VisiRecon® enables lenders to alleviate inefficiencies and resolve research issues quickly to increase their productivity while also reducing costs and focusing resources in more profitable areas.”
About Visionet Systems Inc.
Cranbury, N.J.-based Visionet Systems is a full service mortgage consulting and business process outsourcing company that delivers products in the best-of-breed philosophy. Using a combination of consulting, metrics-based technology solutions and business process outsourcing, Visionet Systems helps lenders identify and remove inefficient processes to improve profitability. Founded in 1995, the company’s customers include mortgage lenders and servicers.
For more information, visit www.visionetsystems.com
Visionet Systems Inc.
www.visionetsystems.com
4B Cedar Brook Drive
Cranbury, NJ 08512
Phone 609.452.0700
Fax 609.655.5232
clifford.johnson@visionetsystems.com
Contact:
Arshad Masood
Visionet Systems Inc.
609-452-0700 Ext. 1119
arshad@visionetsystems.com
Joy Harper
Visionet Systems Public Relations
(678) 799-8118
